08:36:40 EDT Thu 28 Mar 2024
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West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 75,886,806
Close 2017-09-14 C$ 67.76
Market Cap C$ 5,142,089,975
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Globe says GM, others hear U.S. seeks "sunset clause"

2017-09-15 07:12 ET - In the News

See In the News (C-GMM) General Motors Company

The Globe and Mail reports in its Friday, Sept. 15, edition that the Trump administration is pushing for a "sunset clause" in the North American free-trade agreement that would automatically kill the deal after five years unless all three sides agreed to keep it in place. The Globe's Adrian Morrow writes that Canada and Mexico immediately rejected the idea, arguing that it would create unnecessary uncertainty for businesses, which would not want to make investments without reassurance that market access between the three countries is here to stay. Such a provision, if inserted into NAFTA, would all but guarantee that the current trade-related drama would play out in the United States again in five years time. U.S. Commerce Secretary Wilbur Ross confirmed the sunset proposal on Thursday, saying both he and U.S. Trade Representative Robert Lighthizer, who is overseeing the NAFTA renegotiations, are in favour of the idea. The three countries are trying to finish the deal by the end of the year to allow President Donald Trump to fulfill a key campaign pledge and ensure talks do not run into the campaign period for Mexico's presidential election next year.

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